Daily Chart Report ? Friday, September 13th, 2019
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Today’s Summary
Friday, September 13th, 2019
Indices: US stocks were mixed in today’s session with the Dow Jones Industrial Average inching up 37 points or 0.14%. The S&P 500 and Nasdaq both closed slightly lower by 0.07% and 0.22%, respectively. The Russell 2000 was the strongest of the major indices, advancing 0.20%.
Sectors: Materials led for the second day in a row, gaining 1.09%. Real Estate lagged, falling 1.20%.
Commodities: Crude Oil futures moved lower by 0.44% to $54.89 per barrel. Gold futures fell 0.52% to $1,499 per ounce.
Currencies: The US Dollar Index slipped 0.13%.
Interest Rates: The US 10-year Treasury yield moved higher to 1.899%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared on Twitter by David Zarling (@AdaptivCharts). It’s a weekly candlestick chart of Taiwan Semiconductor $TSM. In a report today, we highlighted the ongoing breakout in Semiconductor stocks. $TSM is the largest component in the popular Semiconductor ETF, $SMH. As you can see, $TSM is testing that key $45 level that has acted as resistance several times. In addition, the stock has formed an extensive base over the past year. Remember: “The bigger the base, the higher in space!”
Quote of The Day
Top Links
Unlocking the Value in Financials – The Chart Report
In this week’s Chart of the Week column, we take a look at a ratio chart of Value vs. Growth ($IVE/$IVW) and discuss why it looks nearly identical to a ratio chart of Financials vs. Tech ($XLF/$XLK).
Chip Stocks Breaking Out – The Chart Report
Semiconductors are testing all-time highs. In this report, we explain why this favors the bull case for US equities.
The Market’s Trip to New Highs is Different This Time, and it’s a Bullish Sign – CNBC
In this piece, some of the most respected technical analysts weigh in on the current market environment.
Long-Term Treasury ETF (TLT) Has 2nd Biggest Weekly Drop Ever – Bespoke
The 20+ Year Treasury ETF, TLT just had its second-worst week since its inception, falling over 6%. Bespoke takes a look at what typically happens for TLT in the weeks following a drop >5%.
September Market Message – StockCharts.com
Legendary Technician, John Murphy shares his thoughts on the market in this video. He touches on Bonds, Transports and more.
Top 10 Tweets
You’re all caught up now. Thanks for reading!